Market Size of Southeast Asia Refined Petroleum Products Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Refined Petroleum Products Market Analysis
The Southeast Asia refined petroleum products market is expected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the growing high power demand is expected to stimulate the growth of the refined petroleum products market in the region. Furthermore, increasing investments in refined petroleum products are expected to drive growth.
- On the other hand, the growing emphasis on renewable energy and the adoption of electric vehicles are expected to hamper the growth of the market during the forecast period.
- Nevertheless, favorable policies for investment by private players in the region would likely create lucrative growth opportunities for the refined petroleum products market.
- Indonesia is expected to witness significant growth and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with supportive government policies in the country.
